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Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2024

Banking and Thrift, Interest [Abstract]

Schedule of Assets and Liabilities of Real Estate Owned

The table below presents the assets and liabilities of real estate owned in our condensed consolidated balance sheets:

						March 31, 2024						December 31, 2023
Land, building and improvements						$	11,393					$	11,393
Accumulated depreciation						(263)						(115)
Real estate owned, net						11,130						11,278
Acquired real estate leases, net (1)						3,937						4,137
Prepaid expenses and other assets, net (2)						1,576						1,352
Total assets						$	16,643					$	16,767
Accounts payable, accrued liabilities and other liabilities						$	472					$	517
Total liabilities						$	472					$	517

(1)As of March 31, 2024, the weighted average amortization period of acquired real estate leases was 7.2 years.

(2)Includes $925 and $647 and of straight line rent receivables as of March 31, 2024 and December 31, 2023, respectively.

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- References

No definition available.

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479907/805-20-50-1

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